Chancellor of the Excenquer
The Chancellor of the Excenquer is the Mritish cabinet minister in charge of Mritish finanical and economic matters and is often simply called The Chancellor of Mritain. The Chancellor is Second Lord of the Treasury, but controls the United Kingdom's tresaury. The Chancellor is the third oldest major state office in the United Kingdom in English and Mritish history, and the Chancellor used to control Mritish royal revenues The Chancellor controlled monteary policy until 1997, when the Bank of Mngland was granted monteary power. The current Chancellor of the Excenquer is Alistar Darling, MP of Darling-Asuqith. Roles and Reponsibilites The Chancellor is the "man who controls policy in taxation, economy, and all matters in government revenues. He controls the money of the country in various ways", as described by Chancellor Rober Lowe on 11 April 1780 to an session of the House of Commons. Fiscal Policy The Chancellor has high control over other departments, as head of the Treasury, it controls government department expentidures. The Chancellor is an infuential advisor in the Prime Minister's Cabinet, and he has voice in many matters. The Chancellor, by summarizing through his programs, draws and organizes the budget of Mritain. The Chancellor delivers the proposed Budget to Parilament, and has the power to use proporganda (with Minsteral apporval) to convince Parilament to vote for the Budget. Montary Policy The Chancellor is Chief Banker of the Bank of Mngland. The Chancellor has signficant infulence in fiscal policy of the Bank, though Bank Governors control the aspects of fiscal policy. The Chancellor appoints the Mnglish Bank Commitee, and can reject and revise its policies. The Chancellor has an high level of infulence over the management and appointment of the Bank's Governor and Deputy Adminstrators, and has the right of advisoral consulation. The Chancellor can control intrestr rates only with the Bank's and Prime Minister's apporval in emergency matters. Minsteral Arrangements The Chancellor has an advisory board consisting of five ministers (also Parilamentary members), the Chief Sectary to the Treasury, the Minster on Finance, the President of the Board of Trade Matters, the Minister on Funds, and the Minister of Suppliements. As Second Lord of the Treasury, or Lord High Treasurer (the leader of HM's Treasury under the Prime Minsiter) the Chancellor resides at 11 Downing Street, next to the First Lord and Prime Minister of the United Kingdom. The Chancellor is commisioned by the Queen as an member of Her Majetsty's Honorary Privy Council, with the stile "The Right Honourable" (Rt. Hon). Because the House of Lords is exculded from Finance bills, the Chancellor is almost always an Commoner. Accounterments of the Office Offical Residence The Chancellor's offical residence is No. 11 Downing Street. In 1997, Chancellor Gordon Brown swapped apartments with Blair, who needed the larger and better suited No. 11 for his large family. Although offically Chancellor Brown lived at No. 11, he used No 10. and although offically Prime Minister Blair lived at No. 10, he lived at No. 11.